- Revenue growth across Singapore and Australia in the quarter
- Stronger Australian Dollar offsets weakness in regional currencies
- Net profit affected by finance and tax expenses
Singapore, 11 August 2011 – Singapore Telecommunications Limited (SingTel) today announced that Group revenue rose 7 per cent to S$4.61 billion with 2 per cent growth in EBITDA for the first quarter. The Singapore and Australian businesses recorded healthy revenue growth and demonstrated strength in the operations despite keen competition.
Ordinary pre-tax earnings from the regional mobile associates however fell 10 per cent to S$472 million as a result of weaker regional currencies and the inclusion of a full quarter losses from Bharti Africa. In constant currency terms and excluding losses from Bharti Africa, earnings from the regional mobile associates would have been stable.
As a result of non-recurring exchange gains last year and higher tax expense from Bharti primarily due to the reduction of tax holiday benefits in India this quarter, the Group’s net profit declined 3 per cent to S$916 million.
Full Press Release via SingTel
